Are you stumped when it comes to debt collection and recovering monies owed that are outstanding?
Or do you kind of ignore it and hope that it will fix itself?
Maybe you just get angry and lose valuable client connections that could have been maintained with the right debt collection strategy.
We advise that to be as successful as possible when it comes to debt recovery to make contact with the client as soon as the debt becomes outstanding, here are the steps that we follow to ensure that your money is recovered quickly and effectively:
1. Within 24 hours of our office receiving the account in our hands we make and attempt to contact the client. We use a suitable worded demand letter and either fax, email or mail it and we follow it up with a demand by phone.
2. We follow up with a visit to the premises of the client.
3. We will conduct asset tracing to find the debtor if it is difficult and ensure that you receive the money that is owed.
We guarantee that at all times we will conduct business on your behalf in a professionally assertive manner.
We always, in the first instance work to have the debts paid in full, sometimes this is not possible and instead we may suggest a repayment plan to work towards a resolution.
If this is the case we will gain your approval prior to finalising the plan and will monitor payments as they are received until the plan is completed.
Before you refer a file to us for collection it is essential for you to make sure that you have all the information that we need for successful debt recovery.
The information that we need includes:
- The debtor’s full name and address, please include any phone numbers for contact and also any third part that is also involved with the transaction
- The full details of the debt and if you have previously tried to recover the debt please give us those details as well
- Do you have anything that we use for negotiation such as a title, lien, guarantees or security?
Copies of the last statement that was sent to the debtor and a copy of their credit application
Please contact our expert staff about any aspect of debt collection and recovery.